Emami Biotech, the newest participant in the budding packaged edible oil section, is eyeing to detain 15% market share by the next three years (2013).

Emami Biotech, which is a division of the Kolkata-based Emami Group, made entry in the branded edible oil segment with its Healthy and Tasty brand sunflower, palm and rice bran oil.

The company, which imports crude palm, sunflower and rice bran oil is spreading out its oil refining capacitance by setting up novel refinery plants in Andhra Pradesh and Gujarat at a total expenditure of Rs 500 crore.

The company has already amplified its subsisting edible oil plant at Haldia with a total investment of Rs. 100 crore.

Director Manish Goenka stated, "We have also taken 100,000 acres in Ethiopia on long lease to grow palm, sunflower oil seeds and jathropha plantations. The outlay will be around Rs. 250 crore. We are in the process of investing there."

Rolling out the new brand in Tamil Nadu, Orissa, West Bengal and Karnataka, Mr. Goenka stated that the brand would go public by April/May 2011.

He also said that the company will be introducing the brand in Maharashtra within the next four months.

In the initial year of operations, Emami Biotech will spend approximately Rs 20 crore on brand building.

The company has also appointed cricketer M. S. Dhoni and actress Preity Zinta as its brand ambassadors.

Emami Biotech is eyeing 10% sales from institutional section, which includes hotels, restaurants and contemporary retail chains.